Stocks edge lower for third day

Stocks closed in the red for third straight session on Thursday as investors followed cautious stance amid profit taking tendency. The market started with a positive note, but could not sustain as late hour sell pressure wiped off early gain, eventually ended marginally lower. DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 30.40 points or 0.68 per cent to close at 4,436.20 points. The other two indices also closed in red. The DS30, comprising blue chips lost 15.45 points or 0.94 per cent to close at 1,621.86 points. The DSE Shariah Index (DSES) shed 6.16 points or 0.61 per cent to close at 1,002.92 points. Turnover improved slightly, but remained below Tk 3.0 billion mark. The total turnover on DSE amounted to Tk 2.62 billion, which was 5.64 per cent higher compared to previous session’s Tk 2.48 billion. The losers took a modest lead over the gainers as out of 298 issues traded, 136 declined, 117 advanced and 45 remained unchanged on the DSE floor. Appollo Ispat Limited was the most traded stocks with shares worth Tk 351.42 million changing hands followed by Beximco, Lafarge Surma Cement, Peninsula Chittagong and GP. Appollo Ispat was also the day’s highest gainer, posting a rise of 9.02 per cent while Progressive Life Insurance was the day’s worst loser, slumping by 4.52 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) closed marginally lower with its Selective Categories Index – CSCX – lost 29.60 points to close at 8,475.17 points. Losers beat gainers 104 to 67, with 25 issues remaining unchanged at the port city bourse that traded 8.49 million shares and mutual fund units with turnover value of Tk 237.08 million.